Financial Analytics Market Size

Financial Analytics Market size was over USD 8.72 billion in 2023 and is projected to exceed USD 36.32 billion by 2036, growing at over 11.6% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of financial analytics is assessed at USD 9.53 billion. The growth of the market can be attributed primarily to the increasing number of incidences of financial fraud and identity theft, which in turn are steering the demand for financial analytics solutions among many organizations. As per the information provided by the Insurance Information Institute, in 2020 in the United States alone, 1.4 million complaints were filed for identity theft, up from 651,000 in 2019. About 29 percent of all the complaints received by the Federal Trade Commission were identity thefts.

Along with this, rising emphasis on data-driven financial decisions in several industry verticals, and emergence of big data across the globe are also expected to bolster the market growth in the forthcoming years. Furthermore, growing development of improved technologies in business intelligence and business analytics domain is also predicted to provide ample growth opportunities to the market in the near future.